How do insurance brokers make their money?

[Odunsi]

An insurance agent or broker makes their money off commissions from selling insurance to persons or companies. Most commissions is in between 3 and 7 of premiums, based on state rules. Agents sell all types of insurance including ,life insurance, homeowner insurance, health insurance, accident insurance, and annuities.

The broker is expected to stand for his clients best interests. Part of the brokers responsibility is to know the situation, requirements of the clients to get these people the very best insurance policy within their spending budget. Picking the right insurance plan is quite difficult, and research shows that many people turn out choosing a less optimal plan when they only depend on their own judgment.

 

[Grabo]

I now understand how insurance guys makes money from our own hard earned cash.

 

[Khen Ferido]

Thanks for info

 

[Jjjjj12345]

Insurance brokers do make money from us after all, insurance is still a business.

Since you spend on it, why not make the most out of it. Find an insurance broker who you can trust and feel comfortable talking with. Ask around, your family and friends may know an insurance broker instead of going directly tocthe insurance agency.

You now have an insurance broker, what now? Ask questions,do your research and clarify with your broker what you don't understand.

Insurance brokers make money from the policies they sell us. It's up to us how we make the most out of it.